US Chipmaker Says EU Green Subsidies Are Just as Good as at Home
- Wolfspeed is building a $3 billion chip factory in Germany
- US, Europe are locked in a subsidy race to attract green tech
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Wolfspeed Inc. sees green-tech subsidies in the European Union as on par with what the US is offering to attract production of semiconductors important for electric cars.
Tax breaks and other incentives under the US Inflation Reduction Act and support in the European Union are similar, according to Wolfspeed Chief Executive Officer Gregg Lowe. The US chipmaker is ramping up a wafer factory for silicon-carbide chips in New York state and pushing forward with plans for a $3 billion semiconductor plant in Germany’s Saarland state with auto supplier ZF Friedrichshafen AG.